i think that is not just true for the affect on the deficit, but because the deficit is being monatized at this point in time through quantitative easing it can result in great h greater inflation down the road. he would have thought this is not a time to raise taxes, this is a time to cut government spending. we don't want to have a larger government deficit and this is the course that would lead to the greatest prosperity in the economy. he would not have agreed that if we go over the fiscal cliff that that would have a negative impact on the economy, he would say rather that by bringing the deficit down, by having the prospect of lower inflation in the future, that will be good for interest rates and that would be good for the economy in the coming years. jenna: what would he say to those american citizens, though, that say, listen, over the fiscal cliff, i'm afraid of that, i don't even want to entertain the possibilities of what that would look like. >> i think when it comes to issues such as the extension of unemployment benefits, social security, medicare, freidman would have arg